Telegram-herald., 1887-03-19
REVIEW OF TRADE
The Interstate Commerce
Bills Effect on Business.
A. c. Dun { CO.'S EEtELr REPORT.
fne iron Trade psraiyzso--The q. &
O fsik Affects the STOCK Market
The wheat Markell Fsiss IN
CotoR-A Reduction ~
Failures

NV YoSE. March Is T. . Dan &
co. 5 wkekiy review a. trade = i ~ III
Is btc4mang mofe generally fesi zed that
iae Tinker state Commerce bill isl Tor tie
tiuie affecting business uaias 0rably. Ia
some branches A. ia tie moYei1eat of dry
goods % tie Vest, s temporary durfy OF
greater activity results from The desire 10
transport before The coming change Of
rates. But in other trades the uneeri iAinty
es 70 use iutufe tales prodaces almost .
paralysis which is rendered more serious ia
the iron business by the question whether
Hallway building sua repairing nlay Dot
be checked. Many vaguely look for
better understanding u Tie act when Com
mlssloners are announced bat the Com
mlssioners viii have 10 wait decisions II
many courts before they can know what
poEers they have hence il can hardly be
hoped that uncertainty regarding the
effects Of the act viii he soon removed.
Probably the gIeat baltimore & Ohio
neg g1tisuon which causes hesitation in the
stock market. results from tie passage 81
this set Hr. Sully does not seem 10 have
succeeded, bat il IS generally believed that
some important consolidation uf interests
may &c Affected which may have important
influence on the future YalEe of securities.
other events have rather favored prloes on
the whole. European puTch lses are again
of some magnitude aud the danger Of
mOmenfary pressure this Sprng seems less.
unless it should come through determined
effort OF individuals, but tie state Of bank
reserves renders such al operation entirely
possible. Foreign exchange hes declined,
lower prices Of products help 20 make ex-
ports large and the Bank 81 England gsins
rapidly IN specie. wheat declined about
cents, has is now recovering corn has fall
len about cents. oil nas remained with
out import change and lard has declined
nearly half a cent. Cotton, on the con-
trary. has advanced 20 10 cents with large
ex ports but J; is thought speculative hold
ers have embraced the opportunity 20 un-
load. Wheat exports FOR naif OF Michigan
have been about 3 700 GOO bushels including
-four, bat with 1900 U00 bushels surplus
from the last crop year. The stock IN ex-
cess of this years home demand and lu3.-
0,O0O bushels already exported, still Is
more than $1,000. 900 bushels. An advance
in wheat rates 20 Is cents from Minneapolis
10 Chicago by the North western pool. IN
stead of : cents, threatens 10 effect Chi
cago market.
II is now definitely settled that wool in
stead OF advancing with foreign prices has
heen forced down by the dullness in goods,
stDChS on manu- are dLltlcs anu iucft - no
fe : Of short clip, but growers still hold
expectations of higher prices. No change
IS noted in woolen goods. distribution of
cOtions is more active in the change IN
freight rates draws near. but prices
are only firm, and print cloths decline
shade; better feeling is noted in boots and
shoes. many producers bsing pressed to
meet March deliveries, and the Massschu-
sets shops are steadily increasing their
t.A faLl
with sales of para al 81 cents; the demand
for goods is excellent in New England, but
less satisfactory at the West.
Another bond call il promised, but will
hardly effect the money market. as only
50 000.000 bonds have been offered under
the open calls. Reduction of trade dollars
thas far 1904 9o3. IL far below expectations.
indicating thar current estimates were ex-
aggeraie1 silyerireceipis at New York rise TO
73 per cent. Of total custom house receipts.
but the government bss taken in Sl.700 90
gold and put out 81 200,OO silver certificates
during the past week. The demand for
money i active but the. supply adequate.
Al Chicago and ST. Louis rulings OF the
new Bank Examiner occasion some irrita-
ton. as "A number Of banks report lees than
the referred ratio Of reserves. II is pre-
sumed however, that the change in the
policy Of the department will not be SO
hasty as 10 cresie any disturbance.
business failures during the last seven
DAYS for the United States. l97: Canada, 80,
total, DO. against 2S2 last week.